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makvit [3.9K]
3 years ago
7

On May 1, Melany contributed $7,000 and property, with an adjusted basis of $9,500 and a FMV of $11,500, for a 15% share of part

nership Joseph's Jamboree. What is her beginning basis
Business
1 answer:
deff fn [24]3 years ago
6 0

Answer:

her beginning basis is $16500.

Explanation:

basis of partnership

= money contributed + adjusted basis of equipment contributed

= $7000 + $9500

= $16500

Therefore, her beginning basis is $16500.

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You own 25 percent of Unique Vacations, Inc. You have decided to retire and want to sell your shares in this closely held, all-e
Akimi4 [234]

Answer:

$6 million

Explanation:

If 25% of the firm is worth $1.5 million, then 100% of the firm will be worth $6 million (= $1.5 million x 4).

This is an all equity firm, which means it has no liabilities, and it is also a closely held corporation which makes it harder for a stockholder to sell his/her shares. Basically the fair value of the 1,000 shares is the money you can get from your fellow shareholders.

3 0
3 years ago
Suppose the Environmental Protection Agency (EPA) wants to mandate that all methane emissions must be reduced to zero in order t
Orlov [11]

Answer:

C

Explanation:

The economists would disagree with this policy because the opportunity cost of zero pollution is much higher than its benefit. The industries involved may have to stop their industrial activities out-rightly or temporarily until they come up with other ways of production which may bring unemployment, reduction in tax paid to government among others.

8 0
3 years ago
Vidya holds a degree in information technology. She has lots of experience working
dlinn [17]
<h2>Option 2: Social Media Manager</h2>

Explanation:

Option 1: Computer software company in need of a PC support specialist is an  invalid choice because they normally deals with troubleshooting hardware and software. This role is not related to graphic design program.

Option 2: This is the right answer because, social media manager is closely associated with graphic design. So Vidya may pick up this job.

Option 3: Network engineer is not suitable for Vidhya, as this job deals with connecting computers.

Option 4: A technician role plays more with cables and this option too not related to the field of Vidhya.

7 0
3 years ago
Question 56 of 75. Louise is a 29-year-old taxpayer who will use the head of household filing status. Her 2020 modified adjusted
Andre45 [30]

Considering the situation described above, the maximum amount Louise may receive for the retirement savings contributions credit (Saver's Credit) is "<u>$150</u>."

This is because according to the Internal Revenue Service regulations, for individuals filing under the head of household filing status, with an adjusted gross income of $31,876 - $48,750, such person would only be able to receive 10% of his retirement savings contributions credit (Saver's Credit).

Therefore, Louise has only contributed $1,500 to her employer's 401(k) plan. Consequently, she can only receive 10%, which is "<u>$150</u>."

Hence, in this case, it is concluded that the correct answer is "<u>$150</u>."

Learn more about Savers credit here: brainly.com/question/25767045

7 0
2 years ago
In January of the current year, Stan Signowski's U.S. employer assigned him to their Paris office. This year, he earned salary,
elixir [45]

Answer:

Stan appears to satisfy the basic Sec. 911 exclusion requirements for his year of arrival since he will be physically present in France for at least 330 days during his year of arrival. The actual number days for which the exclusion can be claimed depends on the length of time he spent in the United States. The salary, cost-of-living allowance, housing allowance, home leave allowance, and education allowance all are excludable up to the Sec. 911 limitation (calculated on a daily basis). In addition, Stan can claim an exclusion for the housing cost amount minus the base amount (calculated on a daily basis). Both exclusions are denied for the portion of Stan's salary and allowances attributable to his time in the United States. The portion of his employment-related expenses and foreign taxes attributable to the excluded income are unable to be deducted or credited. The foreign-earned income exclusion and housing cost amount exclusion are both elected by claiming such amounts on Form 2555.

Not knowing the amount of the foreign income taxes, and other components of Stan's tax return, it is impossible to know whether Stan should elect out of the Sec. 911 exclusion. Stan may have spent sufficient number of days in the United States on his trip home to need to qualify for the foreign-earned income exclusion under the bona fide foreign resident rules. In such case, he will not qualify for the exclusion until the end of this second calendar year in France. The exclusion would then be available retroactively back to the date on which he established foreign residency status.

Explanation:

5 0
3 years ago
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